Here’s a technical analysis breakdown for $ZEN
/USDT (Perpetual Contract)
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🟠 $ZEN /USDT – Market Overview
Current Price: $6.987
Mark Price: $6.986
24h Change: -7.48% 🔻
24h High / Low: $7.589 / $6.940
24h Volume:
ZEN: 1.59M
USDT: 11.55M
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📊 Technical Indicators
Indicator Value Interpretation
MA(5) 49,144.9 ⬇ Short-term volume declining
MA(10) 71,731.7 ⬇ Medium-term volume weaker
Volume Now 10,773.2 ⬇ Low compared to averages
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🔍 Support & Resistance Levels
Type Price Notes
Resistance $7.095 – 7.295 Short-term resistance cluster
$7.496 – 7.696 Major breakout zone
Support $6.940 24h Low – key short-term support
$6.894 Minor support (possible stop grab zone)
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🧠 Price Action Summary
Price is down sharply (-7.48%) and sitting just above key support at $6.94.
Volume is tapering off, indicating possible exhaustion of selling pressure.
The range between $6.94 – $7.29 is a potential reversal/bounce zone.
A break below $6.94 could lead to capitulation down to ~$6.60–6.75.
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🎯 Trade Scenarios
🟢 Potential Long (Bounce Play)
Buy Entry: $6.94 – $6.89
TP1: $7.10
TP2: $7.30
SL: $6.85
Rationale: Oversold bounce from strong historical support.
🔴 Breakdown Short
Sell Trigger: Confirmed close below $6.89 with volume
TP: $6.70
SL: $7.05
Rationale: Trend continuation and failed bounce attempt.
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⚖️ Summary
Aspect Outlook
📉 Trend Bearish (strong downside momentum)
🧭 Bias Bearish to Neutral (watch bounce)
🔄 Volatility Moderate to High
⏱️ Focus TFs 15m / 1h for intraday reversal clues
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